GE, the multinational digital industrial company, has executed on its agreement to acquire a 75% stake in German 3D printing company Concept Laser, and will take full ownership over the next few years. GE has also purchased 76.15% of Swedish additive manufacturing company Arcam AB.

GE announced on Monday that it has now executed on its agreement to acquire a 75% stake in Concept Laser, allowing it to take full ownership of the German additive manufacturing specialist over the next several years. GE has also concluded its tender offer for the shares of Arcam, purchasing 76.15% of the Swedish 3D printing company. Now, with controlling shares of two important producers of additive manufacturing systems under its belt, GE has pledged to invest significant funds into the advancement of 3D printing technology, improving the portfolios of both companies.

“GE has made significant long-term commitments to both Arcam and Concept Laser to enhance their complementary technologies,” said Mohammad Ehteshami, vice president for Additive Integration at GE Additive. “Both companies are important players in the growing additive manufacturing movement, and are foundational to GE’s journey into this revolutionary manufacturing space.”

Concept Laser, headquartered in Lichtenfels, Germany, operates in the US, China, and elsewhere, and has a global network of more than 35 distributors and agents promoting its powder bed laser AM systems. The company, which has over 200 employees, is seen as a pioneer in the metal additive manufacturing sphere, having made strides in the area of additive manufacturing smart factories—seen by many as one the most important future applications of 3D printing technology. The company has customers in the aerospace, automotive, jewelry, medical, and dental industries.

Arcam AB, based in Mölndal, Sweden, invented the electron beam melting machine for metal additive manufacturing, and also produces advanced metal powders (including Titanium, Titanium alloys, and Cobalt-Chrome) for 3D printing. Arcam has around 285 employees, and operates metal powders operation AP&C in Canada, as well as DiSanto Technology, a medical additive manufacturing firm based in Connecticut. Arcam also has sales and application sites worldwide, serving customers in the aerospace and healthcare industries.

The twin takeovers of Arcam and Concept Laser demonstrate that GE means business in the 3D printing world. The multinational company has invested approximately $1.5 billion in manufacturing and additive technologies at GE’s Global Research Center (GRC), and has developed additive applications across six GE businesses. It has also created new services applications across the company, and earned 346 patents in additive manufacturing powder metals.